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Vienna fund a "ray of hope" for Bulgaria's Corpbank: PM
August 20, 2014 / 9:26 AM / in 3 years

Vienna fund a "ray of hope" for Bulgaria's Corpbank: PM

SOFIA, Aug 20 (Reuters) - An unidentified fund based in Vienna has expressed interest in rescuing Bulgaria’s Corporate Commercial Bank (Corpbank) and will present a concrete plan to do so within 10 days, Bulgaria’s Prime Minister Georgi Bliznashki said on Wednesday.

The fate of the country’s fourth-largest lender has been in limbo since June, when a run on deposits at the bank prompted the central bank to seize control and close its operations.

“Yes, a fund, based in Vienna, showed interest in rescuing Corpbank,” Bliznashki told reporters at a news conference. “Their representatives will present a concrete plan within 10 days ... it’s a ray of hope but we’ll see.” (Reporting by Angel Krasimirov; Writing by Matthias Williams; Editing by David Holmes)

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